Things In Europe Just Getting Worse By The Minute

SOME GOVERNMENTS CONCERNED ABOUT MAKING A PAYMENT TO GREECE AMID POLITICAL TURMOIL

And so the check bounces, which is ironic, because as we repeatedly explained, the Greek bailout is not about Greece: it is merely to allow Europe to bailout its banks via ECB and Troika funded interest payments and using Greece as a passthru vehicle. Luckily, that particularly aggravating farce may soon be ending.

Here comes the bankster counterpunches. I expect Greece's "bold new leadership" will fold like a bad poker hand when they realize their government will collapse without the credit they are addicted to.

The whole bailout was predicated on verified compliance by permanent EU/IMF monitors in Athens. And that was the only way the former Greek Govt could get their 20% cut of the bailout euros, plus get debt writedowns, so thus much less interest on what debt remained.

But spreads still ate these euros up anyway.

So such compliance incentives are now moot, as they were not worth the economic/social pain and political slaughter anyway. And that has also killed tourism.

They have two options, get out of the euro now or comply for a few more months ... until the next sugar-daddy-hit of bailout negotiations rolls around.

I don't think compliance is a political option in Greece, and Germany has wisely already said there's no-go on re-defining the recent agreement.

Speaking of the "Good Guys"......check out this US Military document on how the FEMA camps (titled "Interment and Resettlement Operations" and dated Feb 2010) will be supervised and run. Here it is in black and white folks. An Army spokesman helpfully informs us that it is intended only for foreign detainment camps despite the clear language inside (such as using the detainees Social Security number as an ID) that indicates it is for domestic use.

Read that one a few months ago, they've clearly had this mapped-out for years.

This is what they'll do with the neo-revolutionist rabble. Gitmo for disgruntled citizens, and you can bet the treatment will be the same. Indefinite detention, torture and supra-judicial execution, with extreme prejudice (and selling the body parts of course).

They've been planning to setup concentration camps when the collapse arrives, boiling-a-frog style. That's why FEMA had to exist, the Feds were planning to create an 'Emergency' (that would be us), to 'Manage' with Federal agents.

At least the Commies didn't disguise the nature of the Gulag re-education as labour slaves, and nor did the Nazi's disguise what the Gestapo was.

If the UN had a shred of decency or honesty about it, it would move its headquarters to somewhere like Iceland - immediately - assuming Iceland would even agree to take in several thousand parasites and assorted hangers-on.

Good guys win in novels. The squid and the super squid win in real life. When was the last time the good guys won?

""The path of the righteous man is beset on all sides by the inequities of the selfish, and the tyranny of evil men. Blessed is he who in the name of charity and good will, shepherds the weak through the valley of darkness, for he is truly his brother's keeper, and the finder of lost children."

Someone quoted that in the friggin' pub the other night. Accurately too. The guy's a builder / handyman and often fond of the sound of his own voice, but it doesn't mean he's necessarily stupid. And, if that sort of thing is regularly cropping up in bar-room conversations (and here in Wales it increasingly is!) then things are inevitably going to get very interesting.

What gets me at the moment, though, is the UK govt doesn't seem overly concerned about the Eurozone, global economy, et al. They're obviously saying these things are important, but there isn't the general tone that they're really the massive deal we all think they are. What gives? Do the banksters / pols have a few more cards up their sleeves somewhere? Or do they know something we don't - something's gonna happen that will make the current death-spiral economic antics look like small potatoes?

I'm generally pretty good at picking up the actual plot through the waves of weasel-word bullshit the govt and MSM like to spout but, currently, I'm confused; they don't really seem that worried! And every indication says they should be!

Greece and the rest of the world will soon have to come to grips with the impossibility of Greece's debt position. Once this is done the way will be found to confront the impossibility of Spain's debt position, Portugal and then one day Japan's and the USA's.

No neat solutions exist, just realistic ones.

And the way they will get over the debt position is by writing it off.

Majority of the debt is now out of private (bank) hands and rests at the ECB, right? So any payments to Greece are essentially left pocket / right pocket transactions. Well, if the left pocket isn't going to put the money in the right pocket, why put money in the left pocket in the first place? The fact that this is even being "debated" is comical.

Greece still cannot agree on forming a coalition government. This will make for some drama when the EU appoints a technocrat to be the PM. In the end they got exactly what they wanted Greek politicians who cannot come to an agreement on the new government. Problem solved for them.

Not so sure it is deflationary....just dollar "strength" as compared to the other fiats.

And soon enough we'll see everyone realize that the USD is just another piece of paper like the euro. But I do wish I hadn't bought silver at 30 and gold at 1600. Should have waited a little longer...the price average would still be fine except for that damn boating trip.

Not gonna happen... it's election time in Holland; one of the net contributors.

People here have had it with Europe in this way; so parties who approve will get slaughtered september 12 in national elections. They know this so they either don't make a decission or make one in favor of the electorate. They love the way the seats smell in parliament...

In some ways this all reminds me of the late 1930s and the confrontation over Poland. The Germans had already invaded, the Brits had declared war, but the French wanted to keep talking. As if events could magically be undone.

The Europeans have this amazing propensity to think if they just keep talking that reality will just pass them by. Face it, the Euro/EU/ECB/EMU is broken, there is no fix except to abandon the socialist/free lunch/goodies for everyone mind set.

It is amazing that after 70 years we are back in almost exactly the same place as we were in pre WWII and for basically the same reasons - debt that cannot be paid back! Wow, history is definitely repeating itself here. The old feelings are bubbling through once again and leading Europe back to the fringes of war and mass confiscation. They've (France/Germany) already took most of Greece's Gold and they own most of their infrastructure, how does Greece unwind from that?

Maybe Greece exits the Euro and then nationalizes, through what would now be confiscation of thei critical assets - like infrastructure, healthcare, and so on. I cannot wait for a new currency out of Europe - it changes everything, even though Greece is small. It is definitely best for Greece to exit, otherwise they will be debt slaves to the Germans for the next 1000 years, literally!

the greeks are a smart people. very civilized, very intelligent, and they know how to play they underdog-role. don not underestimate them. they will fuck the EU; first take the money, then force a haircut in bonds, then leave the eurozone, and then never pay anything back. they are very smart. and they have a beautiful land.